Price drops like a rock and seems unstoppable on the short term. It has ignored the red uptrend line and now the 50% retracement level, a valid breakdown below these levels will bring a breakdown through the warning line (wl1) as well.
Should drop much deeper as the Nikkei’s drop is boosting the Yen, the index is very heavy on the daily chart after the false breakout above the 19700 horizontal resistance.
The major downside targets will be at the 61.8% and below at the long term 38.2% retracement level, could also be attracted by the second warning line (WL2) of the former descending pitchfork.
